The US subsidiary of the Huobi Group - HBUS Exchange, - has entered into an agreement with a financial company from Nevada Prime Trust to support the input / output of fiat funds, reports CoinDesk.
HBUS will allow users to trade Bitcoin, Ethereum and Tether USD together with the US dollar.
At the same time, Frank Fu, HBUS CEO, stressed that the company intends to conclude several more deals in the United States.
At this stage, HBUS intends to work with institutional clients and ensure legal compliance of its activities, after which it will start working with a wider audience. In 2019, the company also plans to increase its staff to 150 employees.
According to Fu, about 60,000 US residents and several dozen users from China are registered with HBUS.
In the listing of the platform there are such coins as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic and Tether USD. However, its representatives are considering the possibility of adding other tokens in the future.
As reported, Huobi’s new global asset flows could indirectly give Chinese traders the ability to convert yuan for cryptocurrency through Huobi Global’s OTC desk, then send the cryptocurrency to the U.S.-based exchange to cash out in USD.
It is also worth mentioning that the Australian Goldfields Money is the banking partner of Huobi Global.
Huobi became the leader in commission fees among Bitcoin exchanges in 2018. She earned $ 483 million.